Market Overview for Linea/Turkish Lira (LINEATRY) as of 2025-11-09

• LINEATRY opened at $0.5225 and closed at $0.5134, declining by ~1.74% over 24 hours.
• A notable bearish engulfing pattern formed at 17:00 ET on 2025-11-08, followed by a pullback to key support at ~$0.5047.
• Volume spiked during the 03:00–03:45 ET window, signaling increased bearish activity.

24-Hour Summary

At 12:00 ET on 2025-11-09, Linea/Turkish Lira (LINEATRY) opened at $0.5225, reached a high of $0.5294, and closed at $0.5134 at 12:00 ET the next day. Total volume for the 24-hour period was approximately 25,737,090.0 units, with total turnover reaching $13,369,590. The pair displayed a bearish consolidation, with price declining after reaching a short-term peak near $0.5294 and failing to maintain above $0.5213.

Structure & Formations

A bearish engulfing pattern formed at 17:00 ET on 2025-11-08, confirming a shift in sentiment. Price then retreated toward a key support level near $0.5047, with a bullish reversal attempted at this level but failing to hold above $0.5134. A doji-like consolidation was observed between 02:15–02:30 ET, suggesting indecision among traders ahead of the major bearish move.

Moving Averages

On the 15-minute chart, the 20-period MA crossed below the 50-period MA late into the night, signaling bearish momentum. On the daily chart, price held below all key MAs (50, 100, 200), indicating a bearish bias in the longer-term trend.

MACD & RSI

The MACD turned negative and remained below the signal line, with bearish divergence observed after the peak at $0.5294. RSI entered oversold territory (below 30) at 03:15 ET but failed to generate a strong bullish reversal, suggesting caution ahead of any buy signals.

Bollinger Bands

Price broke below the lower band at $0.5047, with volatility expanding during the 03:00–03:45 ET period. The bands then contracted slightly, indicating a potential period of consolidation ahead.

Volume & Turnover

The largest volume spike occurred at 03:00 ET (2.27M units) with a turnover of ~$1.14M, aligning with the break below $0.5047. Notable divergence occurred between volume and price after 05:15 ET, where volume remained high despite a weaker close, hinting at potential bearish exhaustion.

Fibonacci Retracements

On the 15-minute chart, the price found temporary support at the 61.8% retracement level of the $0.5047–$0.5294 move, around $0.5150. A further test of the 38.2% level (~$0.5120) is anticipated in the next 24 hours.

Backtest Hypothesis

A rules-based backtest of the Bearish Engulfing pattern on LINEATRY could be implemented with the following assumptions: confirm the pattern on a daily timeframe, enter at the next open, and exit at the first swing low (e.g., lowest close in the prior 10 days) or upon hitting a 5% trailing stop, whichever comes first. Using this approach, performance metrics such as win rate, risk-reward ratio, and drawdown can be evaluated over the 2022-01-01 to 2025-11-09 period. Given the recent bearish momentum and key support level activity, this strategy may offer a structured way to capitalize on short-term bearish continuation.